| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 46th | Poor |
| Demographics | 23rd | Poor |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 425 S 9th St, Leesburg, FL, 34748, US |
| Region / Metro | Leesburg |
| Year of Construction | 1985 |
| Units | 21 |
| Transaction Date | 2009-03-19 |
| Transaction Price | $408,985 |
| Buyer | SOUTH STREET TRIPLEXES LLC |
| Seller | FULLER G KENT |
425 S 9th St, Leesburg FL Multifamily Investment
Neighborhood renter demand is supported by a majority share of renter-occupied housing units, while occupancy has been improving, according to WDSuite’s CRE market data. The balance of workforce-oriented amenities and steady household growth at the neighborhood level points to durable leasing fundamentals.
Positioned in Leesburg’s inner-suburb fabric of the Orlando-Kissimmee-Sanford metro, the property benefits from neighborhood amenities that are competitive among 465 metro neighborhoods. Parks and everyday services stand out, with parks access in the top quartile nationally and grocery/pharmacy density competitive within the metro—positive for day-to-day livability and resident retention.
Local retail and services skew toward essentials rather than cafés, with restaurants relatively plentiful compared with many neighborhoods nationwide. For investors, this mix supports workforce tenancy and convenience-driven leasing without relying on discretionary destination traffic.
The neighborhood’s share of housing units that are renter-occupied is elevated (above most U.S. neighborhoods), which signals a deeper tenant base for multifamily. While the neighborhood’s occupancy rate sits below the metro median among 465 neighborhoods, it has trended higher over the past five years—an encouraging signal for stabilization and leasing velocity.
Within a 3-mile radius, population and household counts have expanded in recent years, with projections indicating continued growth by 2028. A rising household base and slightly smaller average household size typically translate to a larger renter pool and support for occupancy stability. Median household incomes in the 3-mile area have also advanced, reinforcing depth for well-managed workforce housing. Home values in the neighborhood are elevated enough to sustain steady rental demand without materially eroding the renter pool.
Vintage matters: the asset’s 1985 construction is newer than much of the neighborhood’s post-war housing stock. That positioning can be competitively advantageous versus older comparables, while still warranting targeted capital planning for building systems and interiors to capture value-add upside.
Safety conditions are mixed relative to the region and nation. Compared with Orlando-Kissimmee-Sanford neighborhoods, overall crime levels track a bit below the metro median among 465 neighborhoods. Nationally, the neighborhood does not rank in the top half for safety, but recent trends are nuanced: violent incidents show modest year-over-year improvement, while property offenses ticked up slightly. For operators, practical measures like lighting, access control, and community engagement can help support resident confidence and retention.
Nearby employment spans waste services, software, financial services, logistics, a major restaurant headquarters, and industrial gases—providing a diverse commute shed that can underpin renter demand and lease retention.
- Waste Management — waste services (2.2 miles)
- Symantec — software (31.8 miles)
- Prudential — financial services (34.8 miles)
- Ryder — logistics (37.3 miles)
- Darden Restaurants — restaurant group HQ (38.6 miles) — HQ
- Airgas Specialty Products — industrial gases (44.5 miles)
This 21-unit, 1985-vintage asset offers exposure to a renter-oriented neighborhood with improving occupancy and solid everyday amenities. The property is relatively newer than much of the local housing stock, supporting competitive positioning with potential for targeted value-add to enhance rents and retention. Within a 3-mile radius, population and households have been growing, with forecasts indicating continued renter pool expansion—constructive for long-term leasing fundamentals.
According to CRE market data from WDSuite, neighborhood occupancy trends have improved even while levels remain below the metro median, suggesting room for operational upside with disciplined management. At the same time, rent-to-income dynamics indicate some affordability pressure, so calibrated pricing and resident services will be important to sustain renewal rates.
- Renter-oriented neighborhood supports a deeper tenant base and steadier demand.
- 1985 vintage is newer than nearby stock, with actionable value-add and system upgrades.
- Amenities and services competitive within the metro aid day-to-day livability and retention.
- 3-mile population and household growth points to ongoing renter pool expansion.
- Risks: occupancy below metro median and affordability pressure require prudent lease management and cost control.